(Amazon) Amazon Inc. reported a net income of $3.2 billion in the third quarter of 2021, down from $6.3 billion in the comparable quarter of 2020.
In the nine months of 2021, net income was $19.041 billion, up from $14.02 billion in the prior year.
The e-commerce giant’s earnings per share of $6.92 was below expected $8.92 and a decline from $12.37 reported in the prior year.
The company’s revenue was $110.81 billion, an improvement from $96.145 billion in the comparable quarter of 2020 but below expected $116.6 billion. Nine-month revenue was $332.41 billion, up from $260.51 billion in the prior year.
Amazon now projects a decline in sales in the fourth quarter as consumers move back to physical stores and supply chain challenges bite. Q4 revenue is expected to range between $130 billion and $140 billion, less than the expected $142.1 billion.
The company expects operating income to be between $0 and $3.0 billion in the fourth quarter, down from $6.9 billion in the prior year.
Amazon also projects “several billion dollars” of consumer business costs in the fourth quarter due to labor shortages, increased supply chain expenses, and higher employee costs.
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